The CFO of Bally’s told Nevada regulators Wednesday the company’s goal is to have retail and other amenities ready in time for the A’s opening their $2 billion baseball stadium in 2028, but she didn’t give a 100% guarantee.
Mira Mircheva was appearing before the Nevada Gaming Control Board on a routine regulatory matter when she was asked to give an update on the company’s progress with the former Tropicana Las Vegas site where the stadium is being built, and Bally’s projects in Chicago and New York.
Bally’s plans to open and operate retail to coincide with the debut of the A’s stadium in spring 2028; any hotel and casino openings will occur at a later date.
Mircheva said Bally’s has submitted applications to Clark County for its retail, entertainment, hotel, and casino plans and the county is awaiting approval from the Federal Aviation Administration, due to its close proximity to the Harry Reid International Airport.
“In the meantime, we’re continuing to develop plans for the project with retail, entertainment, and dining, phase one of the project,” Mircheva said. “The podium designs are progressing and we’re in active negotiations with national tenants for retail, entertainment, and restaurant venues.”
Marnell Architecture is working on those plans and JLL is working to secure retail, entertainment, and dining partners.
Mircheva was then asked by Board Chair Mike Dreitzer what facilities would be operating on MLB opening day 2028.
“The priority is construction of the stadium and as we’re waiting for entitlement approval and further development of the plans that will obviously dictate the timeline, but I expect amenities to follow the completion of the A’s stadium, hopefully closely.”
Dreitzer repeated his question about being ready by April 2028.
Mircheva said, “That would be ideal from our standpoint and we’re hoping to achieve that, but again we’ll have to firm up those plans as everything comes into place.”
Bally’s attorney Dan Reaser told the Board that by opening day, the operator has obligations “to do a fair amount of infrastructure investment — parking garages, power systems and utilities, and a plaza. Under the land-use plan filed with the county on Sept. 29, phased development kicks in then, first non-gaming retail and food service, then casino development.
Reaser said the land-use documents show the stadium toward the back of the property, with space on Tropicana Avenue and South Las Vegas Boulevard. On the back side will be one hotel tower and a hotel tower on Las Vegas Boulevard.
“The county has informed us they’re ready to go to the County Commission whenever the FAA grants their approval on the restrictions on the hotel towers,” Reaser said. “That will govern whether we have to change the configuration of the hotel towers.”
As for its $2 billion casino development in Chicago where Bally’s has a temporary property operating, Mircheva said construction is progressing, citing the topping-off ceremony at the end of April. The full steel structure is in place for both the podium and hotel tower and Bally’s is looking to complete construction as soon as possible.
“We had some weather delays earlier in the year, but we’re moving very quickly and working toward targeting the project for the end of 2026,” Mircheva said.
In December, Chicago approved video gaming, allowing establishments to apply for a Chicago video gaming license through the Illinois Gaming Board.
“We have made public comments around that,” Mircheva said. “Obviously, we don’t think that’s the outcome for the city and we will see how approvals come along and how that moves forward. We’re constructing an integrated resort that will offer slot machines and table games, entertainment and dining venues, a convention center with a lot of conferences and conventions in Chicago. We offer a distinctive product that will bring substantial value to the community.”
When it comes to New York City where Bally’s plans a $4 billion casino in the Bronx, Mircheva said the operator has made a payment for its gaming license and golf-course concession. Earlier this year, the Rhode Island-based operator paid $157 million for land that’s been used as a clubhouse and parking area for an existing golf course once owned by Donald Trump. Bally’s plans a 500,000 square-foot casino and 500-room hotel and arena for entertainment overlooking the East River.
“We’re working on the project with various permits and moving toward demolition of the clubhouse and getting monitoring in place,” Mircheva said. “Bally’s has already invested a substantial amount of equity and is actively securing the remaining financing for the $4 billion project.”
Mircheva also gave updates on the financial health of the company, saying the merger of Bally’s International Interactive and Interlot, a refinancing, and a real estate sale, have helped reduce its outstanding debt and allowed it to invest in its various projects.
“We’re making good progress, while continuing to invest in very exciting projects, including Nevada, Chicago, and New York, that once online will transform the revenue and EBITDA profile of the restricted group,” Mircheva said.
